No. of Recommendations: 6
<<<< I was not aware that Americans can't have a local bank account in Europe.>>>>
<< They legally can, but they practically can't, as banks outside the US usually don't want US citizen as customers as they are a huge hassle for those banks.>>
I have a bank account in Europe. It was a bit of a hassle to set up as
a US citizen, but it can be done.
The most important thing as a US citizen with funds in foreign banks is
to file an annual FBAR. The penalties for failing to do that are draconian.
-Rubic
